You’re starting a Performance Management career. What should you know first?

1 What is performance management?

Performance management is the process of defining, measuring, and improving the performance of individuals, teams, and organizations. It involves setting clear and aligned goals, providing regular feedback and coaching, conducting performance reviews and appraisals, and designing and implementing development plans and rewards. Performance management aims to align the expectations, behaviors, and outcomes of employees with the vision, mission, and strategy of the organization.

2 Why is performance management important?

Performance management is important because it helps organizations achieve their strategic objectives, improve their productivity and profitability, and enhance their competitive advantage. Performance management also benefits employees by increasing their motivation, satisfaction, and loyalty, as well as their skills, knowledge, and career prospects. Performance management creates a culture of continuous learning, feedback, and improvement, where employees feel valued, recognized, and supported.

3 What are the challenges of performance management?

Performance management can be challenging, and performance managers must be prepared to face a variety of difficulties. These include setting SMART goals that are in line with the organization’s strategy and values, providing constructive feedback that is balanced and addresses both strengths and areas for improvement, conducting fair and unbiased appraisals, designing and implementing effective development plans and rewards that meet employee needs, managing poor or underperforming employees, and adapting to changing business environments , customer demands, and employee expectations.

4 What are the best practices of performance management?

Performance managers should adhere to some of the best practices of the field to overcome the difficulties of performance management and reap its rewards. This includes communicating the purpose, goals, and expectations of performance management to all employees clearly and consistently, as well as involving them in the goal-setting and performance review process. Additionally, a variety of tools and methods should be employed to measure and monitor performance, such as KPIs, metrics, dashboards, surveys, and observations. Performance managers should also provide frequent and regular feedback and coaching with a positive and supportive tone, recognize and reward good performance and behavior, identify and address performance problems early, foster a culture of learning and development, review and update the performance management system regularly, and ensure its alignment with the organization’s strategy and values.

5 How can you learn more about performance management?

If you’re interested in learning more about performance management, you have plenty of options to choose from. You can enroll in online courses, webinars, workshops, or certification programs that cover the theory and practice of performance management. You can also read books, articles, blogs, podcasts, or videos that offer insights, tips, and examples of performance management. You can also network with other performance managers, mentors, coaches, or experts, and join professional associations or communities that share your passion and interest in performance management.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?